STORMWATER MANAGEMENT FACILITIES (BMP LETTER OF CREDIT)
(PUT ON BANK LETTERHEAD)
IRREVOCABLE LETTER OF CREDIT NO. (1)
County of Gloucester
c/o Mr. Ron Peaks
Director of Codes Compliance
6582 Main Street
Post Office Box 329
Gloucester, Virginia 23061
Re: ____________(3)______________ (13)____________________________________
We hereby establish our Irrevocable Letter of Credit No. ____(1)_____ in your favor, for the
account of ____________(3)______________, available by your drafts drawn at sight on us up to the
aggregate amount of ____________(4)_____________, each such draft accompanied by the following
Your written statement certifying that ________(3)_________ has defaulted in their
responsibilities to construct the Stormwater Management Facilities as depicted on the plans
entitled ___________(5)_____________, dated the _____(6)____, latest revision dated
_____ (6A)___, and subsequent revisions approved by the County of Gloucester, and that you are,
in consequence, entitled to the amount of the accompanying draft.
All drafts drawn under this letter of credit must be marked “Drawn under _____(7)_____ Letter of
Credit No. ____(1)_____ dated ____(2)_____”.
This credit is valid until ________(8)________ and drafts drawn hereunder, if accompanied by
document as specified above, will be honored if presented on or before that date to _______(9)________ at
_______(10)_________ or, if said bank is not doing business at that address, then to any other address or
location of said bank or its successor.
It is a condition of this Letter of Credit that it shall be deemed automatically extended without
written amendment for one year from the present or any future expiry date unless at least thirty (30) days
prior to such expiration date, we notify you in writing at the above address that we elect not to renew this
Letter of Credit for any such additional period(s).
Except as otherwise expressly stated herein, this credit is subject to the “Uniform Customs and
Practice for Documentary Credit”, fixed by International Chamber of Commerce Publishing No. 400, 1993
Very truly yours,
(1) Number assigned to letter of credit by bank.
(2) Date issued.
(3) Name of person, corporation, or partnership submitting letter of credit.
(4) Amount of letter of credit written in words and numerals, i.e., Fifty thousand
and no/100 dollars ($50,000.00).
(5) Insert Project Name on plans, by Design Firm.
(6) Date of initial E&S/Site Plan
(6A) Date of last revision of E&S/Site Plan
(7) Name of bank.
(8) Expiration date of letter of credit
(9) Name and address of bank.
(10) Address of bank or branch thereof where letter of credit is to be presented.
No letter of credit will be acceptable unless it may be presented at a bank
office in Gloucester County, York County, or James City County or in the City
of Newport News, Hampton, Williamsburg, Norfolk, Virginia Beach,
Chesapeake, or Richmond.
(11) Signature of authorized officer of bank.
(12) Title of authorized officer of bank.
(13) Name of project and tax map number.